Usually the Sharing of Profits Is an Indication of a Partnership

question 28

Multiple Choice

Usually the sharing of profits is an indication of a partnership. In which of the following situations will this be TRUE?

• A) to pay the seller of a business an amount for goodwill varying with the profits
• B) to pay an employee as part of his remuneration
• C) to pay the spouse of a deceased partner an annuity
• D) to repay a debt owed
• E) none of the above

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